Standard Chartered - Only Online Trading in town with no minimum commission

Status
Not open for further replies.

Asphodeli

Arch-Supremacy Member
Joined
Jul 8, 2001
Messages
20,208
Reaction score
2,101
StandChart hold the shares under "Raffles Nominees Pte Ltd".
Raffles Nominees is a direct CDP account holder. so there's no additional layer after them.

Enter order on StanChart -> Credit Suisse (wah, didn't know peasant like me will be able to use CS as broker :s22:) to execute orders as broker -> deliver shares to Raffles Nominees (at least for local shares, foreign shares not sure)
 

Asphodeli

Arch-Supremacy Member
Joined
Jul 8, 2001
Messages
20,208
Reaction score
2,101
Let's put it this way, every broker in the world uses a custody to hold your shares except SG. If you are worried over this, you can't trade anything except sgx.

This includes all local brokers who trade overseas shares like DBS, OCBC, POEMS etc...

The CDP itself is a custodian for local shares on the SGX...everytime the circular comes around, the proxy form will always state that CDP appoints you as proxy for them...and you-know-who owns CDP...hehe :s22:
 

Garlic & Butter

Supremacy Member
Joined
Dec 30, 2010
Messages
6,977
Reaction score
70
so SCB uses CS as their prime broker

come to think of it, no wonder they can so easily close down their institutional equities business overnight.

i just checked MAS, SCB dont seem to have a securities trading licence ( or if they have, under some other name?)
 

Bedokian

Senior Member
Joined
Apr 5, 2007
Messages
2,198
Reaction score
6
so SCB uses CS as their prime broker

come to think of it, no wonder they can so easily close down their institutional equities business overnight.

i just checked MAS, SCB dont seem to have a securities trading licence ( or if they have, under some other name?)

As mentioned somewhere in this forum before, the SCB retail equities will become like a discount brokerage.
 

Asphodeli

Arch-Supremacy Member
Joined
Jul 8, 2001
Messages
20,208
Reaction score
2,101
so SCB uses CS as their prime broker

come to think of it, no wonder they can so easily close down their institutional equities business overnight.

i just checked MAS, SCB dont seem to have a securities trading licence ( or if they have, under some other name?)
They're not executing or trading shares what, they just take order only, need license meh?

Sent from Sony D5833 using GAGT
 

kelvinkezz

Senior Member
Joined
Jan 12, 2004
Messages
1,107
Reaction score
62
Called up SCB to request to attend the AGM for Cm Pacific (Apr 30). They called me back a few days later telling me the 'slots allocated' to SCB for the AGM is all full! Has anyone encountered this before? In my opinion, this is a major downside using SCB for trading and custodian for our shares!
 

Perisher

Greater Supremacy Member
Deluxe Member
Joined
Jan 5, 2015
Messages
84,276
Reaction score
10,137
Called up SCB to request to attend the AGM for Cm Pacific (Apr 30). They called me back a few days later telling me the 'slots allocated' to SCB for the AGM is all full! Has anyone encountered this before? In my opinion, this is a major downside using SCB for trading and custodian for our shares!

If you intend to hold long term, perhaps you can buy using SCB and transfer to CDP at $10.70, then you will sure be able to attend. I have never attended any AGM using SCB.
 

Perisher

Greater Supremacy Member
Deluxe Member
Joined
Jan 5, 2015
Messages
84,276
Reaction score
10,137
$10.70 is per counter no matter how many shares?

I have never tried it but I suppose someone here did and can answer you better. Afaik, it's per counter. Don't take my word for it though.

edit:
leelmj wrote:
transfer cost from sc to CDP is SG$10.70 per lot, cap at SG$107 per counter.
 
Last edited:

gameover85

Member
Joined
Sep 13, 2005
Messages
156
Reaction score
0
Hi guys, after selling the stocks, how long does it take for SCB to deposit the money back into my account?
 

Perisher

Greater Supremacy Member
Deluxe Member
Joined
Jan 5, 2015
Messages
84,276
Reaction score
10,137
Hi guys, after selling the stocks, how long does it take for SCB to deposit the money back into my account?

The deposit is in immediately just that the numbers don't reflect it.
You can use it to trade, but cannot transfer out to other account.
the update takes about 3 working day.
 

milkiee

Master Member
Joined
Apr 2, 2007
Messages
3,517
Reaction score
39
hi guys, any idea why does my order keep getting rejected?

i have sufficient funds in my settlements account.
 
Status
Not open for further replies.
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top